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Why Five Below Shares Are Falling Today

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Why Five Below Shares Are Falling Today

Five Below Inc (NASDAQ: FIVE) is trading lower Thursday after the company announced mixed second-quarter financial results and refrained from providing full-year guidance because of uncertainty. 

Five Below reported quarterly earnings of $1.15 per share, which beat the estimate of $1.11 per share. The company reported quarterly revenue of $646.6 million, which came in below the estimate of $646.93 million.

Five Below expects third-quarter earnings to be in a range of 23 cents per share to 30 cents per share versus the estimate of 27 cents per share. The company expects third-quarter revenue to be in a range of $550 million to $565 million versus the estimate of $550.25 million.

Five Below refrained from providing full-year guidance "given the uncertainty related to COVID-19, potential future shifts in consumer spending, and ongoing global supply chain disruption."

“The third quarter is off to a strong start from a sales perspective. We are innovating across our three key strategic priorities: product, experience and supply chain, where the teams are working diligently to mitigate the impact of global disruptions," said Joel Anderson, president and CEO of Five Below.

FIVE Price Action: Five Below has traded as high as $237.83 and as low as $108.51 over a 52-week period.

The stock was down 8.29% at $198.15 at time of publication.

Photo by Mike Mozart from Flickr.

 

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